Employers urged to help their people track down forgotten pots as National Pension Tracing Day marks year four

• Updated employer toolkit free to use to help you support your people’s search.
• Missing money could be vital as cost of living crisis continues to impact everyone’s finances.
• Sunday 27^th October this year’s pension tracing day.

With National Pension Tracing Day (NPTD) approaching its fourth year, employers are being encouraged to play their part in helping their people track down mislaid or overlooked pots.

Employees typically turn to their employer when it comes to pension questions, and we’ve made it easier for HR teams to help their people find any pots with which they may have lost contact.

An estimated one in 20 people may be affected to the tune of £9,500 each, adding up to nearly £27 billion in pots waiting to be claimed, according to latest research carried out for the campaign.

National Pension Tracing Day asks everyone to spend the extra hour when the clocks go back for winter on the last Sunday in October (this year, the 27^th) to start the search with the tracing tools available on our updated website.

We’ve also revitalised the resources companies can share with their staff to encourage them to not only search but to do so with confidence.

Secondsight Managing Director, Employee Benefits Consulting, Gavin Zaprzala-Banks said: “Sadly, forgotten pensions are nothing new – providers have always spent considerable time and money to reconnect people with the savings they’ve left behind.

“So we created NPTD to go a step further by highlighting what everyone can do to crack this stubborn problem. In particular, we provide the tools to employers to empower their people to turn detective and track down any pensions gathering dust.

“Over the years, we’re delighted at the number of organisations who have helped their employees make sense of this challenge. More people switch jobs more often and move home more frequently. We want to make sure they take everything they’ve saved with them.”

Gavin added that everyone can make a start straight away, and uncovering an overlooked pension could make a vital difference in retirement, especially as the cost of living crisis continues.

Plus, the success of auto-enrolment could mean that, conversely, many more people are unaware they even have a pension to claim in the first place.

The non-profit initiative, originally founded by Punter Southall, is now being led by Secondsight. This year, the initiative continues to receive support from Aegon, Aviva, Legal & General Investment Management, Hargreaves Lansdown,  Royal London, Scottish Widows, Smart Pension, Standard Life, and The People’s Pension.